Q1: GDP up 4.6% year on year, 0.7% quarter on quarter

Published: 03.05.2022 Related countries:  Israel Israel

Compared to the first quarter of 2021, GDP was 4.6% higher.

In the first quarter of 2022, the gross domestic product (GDP), adjusted for price influences and the season, was 0.7% higher in quarter-on-quarter terms, according to preliminary estimates. Compared to the first quarter of 2021, it was 4.6% higher. Expenditures for household final consumption and the creation of gross capital contributed positively to the year-on-year increase. On the other hand, foreign demand continued to have a negative effect. In terms of the segment structure, growth was driven the most by the construction sector and by a group of segments consisting of commerce, transportation, accommodation and hospitality. Employment increased by 1.2%.

Source: ČIA News

Prepared by the team of CzechTrade Izrael